If you're paying minimum payments to your credit cards, or you're tossing extra money at different cards when you can with no real rhyme or reason, it's time to sit down, look at your interest-bearing debt, and build a personal debt repayment plan. Thankfully, it's easy, doesn't have to take a long time, and once you've done it, your budget will thank you.

The Simple Dollar suggests you sit down, make a list of those interest-bearing debts, and arrange them in order of interest rate from highest rate to the lowest. List the minimum payments, and add them all up. That's how much you're putting towards your debt every month. Now look at the rest of your budget and see how much you can add to that amount. However much it is, add it to the highest rate payment—the one at the top of your list. Going forward, pay the minimum amount on all of them except the one at the top, which will be the minimum payment plus the amount you can spare. Repeat until each of those line items are paid off.

It may take months or even years depending on the amount of debt you have, but the goal is to be debt free, and have a plan to get there—even the simplest plan that's repeatable and effective will get you there, and this technique is simple and easy enough to be done in a couple of minutes. If you're struggling with credit card debt, how do you go about paying it down? Have any tips to share? Let's hear them in the comments below.